Yahoo Finance Silver Price Forecast – Silver markets struggle on Thursday
Silver markets continue to be very noisy, as one would expect. The $15 level above will continue to be resistance, just as the $14.40 level underneath will continue to be support. However, if we were to break down below the $14.40 level, the market could unwind a bit. Overall, this is a market that continues to be very noisy, but that is typical of silver and of course something that if you have ever traded this market, you will be well aware of. Because of this, I believe that speculation on silver is easier done in the CFD market that it is the futures market. The volatility is simply too dangerous.
However, I do think that silver is starting to offer value at these extremely low levels, so I have been buying little bits and pieces of silver along the way, dollar cost averaging for my retirement. As a longer-term investor, I really like silver, but right now the volatility in the currency markets that we have been seeing will continue to make this a very noisy market. The US dollar of course has a major influence on silver, so pay attention to how it is doing. If the US dollar strengthens, it tends to weigh upon the value of precious metals, and silver being a bit more thinly traded seems to react quicker than gold. Even more ridiculous is the platinum market, which is something that is far too rich for me. Overall, I think that we will eventually bounce, but right now it looks very likely that short-term rallies will be sold off.
SILVER Video 24.08.18
This article was originally posted on FX Empire
